Red Lobster is shutting down its Times Square restaurant next month, ending a 23-year presence at the corner of 41st Street and Seventh Avenue.
The closure — set to take place on June 14 — wipes out the chain's only remaining New York City outpost. The flagship spot at 5 Times Square opened in 2003 and built a reputation as a tourist attraction situated right at the heart of NYC.
In a statement, the company pointed to ongoing construction at the building as the breaking point. "Extensive and prolonged construction at the building has significantly impacted access, visibility, and foot traffic at this restaurant," a Red Lobster rep said, per The New York Post. "Given those conditions, along with the building's planned conversion to residential use, continuing to operate at this location was no longer viable."
"Times Square has been an important chapter in Red Lobster's history, and this was a difficult decision," the company added. Staff at the location are being offered transfers to any Red Lobster of their choosing, plus additional pay to help cover the transition.
In 2024, the building's owners sought $2.2 million in annual rent from the chain, and more than 100 Red Lobster locations have shut down in recent years as the company works to reduce costs.
After it shuts its doors, the building at 5 Times Square is slated to be converted into residential units.
Red Lobster continues to shutter locations and restructure its operations as some of its restaurants still underperform. Earlier this month, Red Lobster’s last remaining restaurant in Tallahassee shut down after 56 years. In Florida altogether, the chain lost 17 restaruants during its first wave of shutdowns in 2024.
In Charleston, the final Red Lobster shut down in 2023, with its building finally being demolished earlier this year. According to city records, the site will now become a free-standing emergency department operated by MUSC.
Though it’s facing serious headwinds, Red Lobster has been in the midst of an attempted comeback since 2024, when Damola Adamolekun took over the company after its Chapter 11 bankruptcy. That same year, Flavor Flav attempted to step in and save it with his own Red Lobster meal called "Flavor Flav’s Faves."
So far, the chain has rolled out revamped menus that focus on "wild-caught" seafood and new promotions. In a public statement, Adamolekun said of the company’s long-term rebuild: "I think this is going to be the greatest comeback in the history of the restaurant industry."
